Crude oil (WTI) was rising 1.29% to $48.02 per barrel while Brent crude was up 1.46% to $49.88 per barrel this afternoon.
Iran, which is the third-largest OPEC producer, is considering joint action to bolster oil prices, sources told Reuters.
The country has been increasing its output since Western sanctions were lifted in January.
Other OPEC members produced at an eight-year high in July, Reuters noted.
OPEC will meet informally during the International Energy Forum in Algeria next month, where analysts expect members will renew talks of freezing output at current levels.
The countries previously discussed a production freeze in April, but the deal collapsed after tensions between Iran and Saudi Arabia grew and other members refused to join, according to Reuters.
Southwestern Energy is a Spring, TX-based independent energy company.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk.
You can view the full analysis from the report here: SWN